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REGAL INT‘L发盈警 预计中期股东应占综合亏损约6.78亿港元
Zhi Tong Cai Jing· 2025-08-22 14:43
于2025年中期期间,预期集团减除利息、税项、折旧及摊销前经营业务盈利为约港币8500万元,由2024 年同期的亏损港币7.348亿元转亏为盈。 此外,由于集团于香港的酒店物业均由富豪的附属公司拥有及营运,该等酒店物业须计提折旧以符合适 用的会计准则。于2025年中期期间,预期集团于香港的酒店组合的折旧费用总额为约港币2.90亿元 (2024年:港币2.913亿元)。尽管该等折旧费用对集团的现金流并无任何即时影响,但已对集团得财务业 绩造成不利影响。 REGAL INT'L(00078)发布公告,预期集团于2025年中期期间将取得股东应占综合亏损约港币6.78亿元, 而于2024年同期取得的亏损为港币15.992亿元。 两个比较期间出现亏损减少,乃主要由于于2024年中期期间,集团按公平值计入损益的金融资产产生公 平值亏损港币9.326亿元,而于2025年中期期间,预期该等金融资产将取得公平值收益约港币700万元。 如富豪的2024年中期报告所阐述,金融资产的公平值亏损主要与集团于Cosmopolitan International Holdings Limited(富豪之同系上市附属公司)所持有的投资有关, ...
REGAL INT‘L(00078)发盈警 预计中期股东应占综合亏损约6.78亿港元
智通财经网· 2025-08-22 14:42
智通财经APP讯,REGAL INT'L(00078)发布公告,预期集团于2025年中期期间将取得股东应占综合亏 损约港币6.78亿元,而于2024年同期取得的亏损为港币15.992亿元。 于2025年中期期间,预期集团减除利息、税项、折旧及摊销前经营业务盈利为约港币8500万元,由2024 年同期的亏损港币7.348亿元转亏为盈。 此外,由于集团于香港的酒店物业均由富豪的附属公司拥有及营运,该等酒店物业须计提折旧以符合适 用的会计准则。于2025年中期期间,预期集团于香港的酒店组合的折旧费用总额为约港币2.90亿元 (2024年:港币2.913亿元)。尽管该等折旧费用对集团的现金流并无任何即时影响,但已对集团得财务业 绩造成不利影响。 两个比较期间出现亏损减少,乃主要由于于2024年中期期间,集团按公平值计入损益的金融资产产生公 平值亏损港币9.326亿元,而于2025年中期期间,预期该等金融资产将取得公平值收益约港币700万元。 如富豪的2024年中期报告所阐述,金融资产的公平值亏损主要与集团于 Cosmopolitan International Holdings Limited (富豪之同系上市附属公 ...
多项金融数据增速保持在较高水平——更多信贷资源流向实体经济
Jing Ji Ri Bao· 2025-08-13 22:07
Group 1 - The People's Bank of China reported that as of the end of July, the broad money supply (M2) was 329.94 trillion yuan, an 8.8% year-on-year increase, indicating a moderately loose monetary policy that supports the real economy [1] - The total social financing stock reached 431.26 trillion yuan, with a year-on-year growth of 9%, reflecting a stable financing environment [1] - The RMB loan balance was 268.51 trillion yuan, showing a year-on-year increase of 6.9%, which is significantly higher than the nominal economic growth rate [1][3] Group 2 - Seasonal fluctuations in credit data were noted, with July typically being a "small month" for credit, as many banks tend to front-load lending in June [2] - The analysis of loan data should consider cumulative growth and balance growth rates, as July's loan balance growth of 6.9% remains robust [2] - The impact of local government debt replacement on loan data was significant, with estimates suggesting that after adjusting for this factor, the loan growth rate could be close to 8% [3][5] Group 3 - The narrow money supply (M1) was reported at 111.06 trillion yuan, with a year-on-year growth of 5.6%, indicating improved liquidity and efficiency in fund circulation [4] - The narrowing gap between M1 and M2 suggests enhanced fund activation and market confidence, aligning with economic recovery trends [4] - Factors such as local debt replacement and the diversification of financing channels are contributing to the growth in loans [4] Group 4 - The average interest rates for new corporate loans and personal housing loans were approximately 3.2% and 3.1%, respectively, reflecting a decrease of about 45 and 30 basis points year-on-year [7][8] - The reduction in financing costs has positively impacted business operations, with many companies reporting significant savings on interest rates [7][8] - The overall financing demand satisfaction is high, supported by a series of policies that enhance the smooth operation of interest rates [8]
央行重磅数据,最新解读!
中国基金报· 2025-08-13 11:55
Core Viewpoint - The latest financial data from the central bank indicates a moderately loose monetary policy, providing a suitable financial environment for the real economy [2] Group 1: Loan Rates - New personal housing loan rates are approximately 3.1%, while new corporate loan rates are around 3.2%, both showing a decline of about 45 and 30 basis points year-on-year respectively [3][4] - The low interest rates reflect a relatively abundant supply of credit, making it easier and cheaper for borrowers to obtain bank loans [4] - The reduction in financing costs positively impacts expectations and expands demand, as evidenced by a technology company that applied for a loan to upgrade its production line after receiving a rate discount [4] Group 2: Loan Growth - As of the end of July, the balance of RMB loans reached 268.51 trillion yuan, with a year-on-year growth of 6.9%, and a total increase of 12.87 trillion yuan in the first seven months [7] - The increase in loans is categorized into household loans, which rose by 680.7 billion yuan, and corporate loans, which increased by 11.63 trillion yuan [7] - The growth rate of loan balances remains significantly higher than the nominal economic growth rate, indicating stable support for the real economy from credit [7] Group 3: Financing Channels - The diversification of corporate financing channels, along with the acceleration of government bond issuance, makes it increasingly difficult for loans alone to reflect the financial support for the real economy [7] - The central bank's introduction of the social financing scale indicator provides a more comprehensive view of financial growth, encompassing various financing channels beyond just loans [7][8] - The focus on new loan issuance reflects the actual lending and repayment situation, which can indicate effective satisfaction of financing needs even if the balance growth appears low [8]
小摩:料九龙仓置业(01997)今年盈利及股息将增长1%至2% 评级“增持” 目标价27.5港元
Zhi Tong Cai Jing· 2025-08-08 06:45
Core Viewpoint - Morgan Stanley's report indicates that Kowloon Development (01997) has shown improvement in rental income for the first half of the year, but management remains cautious about the outlook for the second half, anticipating a low single-digit decline in retail renewal rents, which aligns with market expectations [1] Group 1: Financial Performance - Rental income for Kowloon Development improved on a half-year basis [1] - Management expects a slight improvement in rental income for the second half, benefiting from a decrease in HIBOR, which reduces financing costs [1] - Morgan Stanley forecasts a 1% and 2% growth in earnings per share and dividends for the fiscal year 2025, respectively [1] Group 2: Management Insights - Management reported an improvement in retail sales since May, with Harbour City merchants outperforming the market average [1] - However, management believes it is necessary to observe for a few more months to confirm if the market has fully bottomed out [1] Group 3: Future Plans - The company is evaluating an asset enhancement plan for its Marco Polo hotels, with a total capital expenditure of approximately HKD 2 billion [1] - The full renovation is expected to start as early as the end of 2026, with a temporary impact of 5% to 6% on rental income during the enhancement period [1]
万事昌国际发盈喜,预期中期综合除税前溢利约2.8亿港元至3.2亿港元 同比增加
Zhi Tong Cai Jing· 2025-08-07 09:49
Group 1 - The company, Wan Shi Chang International (00898), anticipates a consolidated profit before tax of approximately HKD 280 million to HKD 320 million for the six months ending June 30, 2025, compared to a profit before tax of about HKD 167 million for the same period ending June 30, 2024 [1] - The significant improvement in financial performance is primarily attributed to an increase in the fair value gains of financial assets recognized at fair value through profit or loss [1] - The relatively low level of the Hong Kong Interbank Offered Rate (HIBOR) has contributed to a decrease in financing costs [1]
超5000亿元!点心债市场持续扩容
Sou Hu Cai Jing· 2025-07-28 13:10
Core Viewpoint - The issuance of offshore sustainable dim sum bonds by Mengniu Dairy has reignited market interest in the offshore RMB bond market, highlighting its significance in expanding financing channels for domestic and foreign enterprises and enhancing the international status of the RMB [1][3]. Dim Sum Bond Market Overview - As of July 28, over 700 dim sum bonds have been issued this year, with a total issuance scale exceeding 500 billion RMB, although both the number and scale have decreased compared to the same period last year [1][2]. - The dim sum bond market has seen a significant increase in issuance volume and scale since 2022, with 2023 projected to reach 1,468 bonds and a scale of 925.11 billion RMB, and 2024 expected to further increase to 2,062 bonds and 1,205.52 billion RMB [5]. Factors Driving Growth - The rapid expansion of the dim sum bond market is attributed to several factors, including the rising costs of issuing US dollar bonds due to the Federal Reserve's interest rate hikes, leading domestic issuers to shift towards dim sum bonds for financing [7]. - The tightening of domestic city investment bond approvals has also created new financing channels through dim sum bonds, while the declining risk-free interest rates in China have made dim sum bonds more attractive compared to US dollar bonds [7][9]. Impact on RMB Internationalization - Dim sum bonds not only provide diversified financing options for domestic and Hong Kong enterprises but also significantly enhance the international status and influence of the RMB [9][10]. - The main issuers of dim sum bonds include city investment companies and financial institutions, with a notable increase in issuance from city investment companies in recent years [9]. Investment Demand and Market Dynamics - There is a growing demand from domestic investors for high-yield assets, alongside increased international interest in RMB-denominated assets, making offshore RMB bonds appealing to both domestic and foreign investors [12][13]. - The potential for further expansion in the dim sum bond market is supported by the expectation of a weakening US dollar and the continued attractiveness of RMB assets, which may lead to lower financing costs in the offshore market [13].
央行上海总部:上海个人房贷需求回升,融资成本稳中有降
news flash· 2025-07-24 06:50
Core Insights - The People's Bank of China Shanghai Headquarters reported a rebound in personal housing loan demand in Shanghai, with financing costs stabilizing and showing a slight decline [1] Financial Overview - As of the end of June, the total loan balance in Shanghai reached 12.85 trillion yuan, reflecting a year-on-year growth of 8.4%, which is 1.6 percentage points higher than the national average [1] - The social financing scale in Shanghai increased year-on-year, with stable growth in total credit and a continuous optimization of the credit structure [1] Loan Growth - Household loan balances grew by 13.7% year-on-year, which is an increase of 8.1 percentage points compared to the same period last year [1] - The demand for personal housing loans has been on the rise since turning positive in October of the previous year [1] - Non-financial enterprise loan balances increased by 5.5% year-on-year [1]
金融滋养共富根基
Zheng Quan Ri Bao· 2025-07-20 11:09
Core Viewpoint - Supporting the financing development of private and small-medium enterprises (SMEs) is essential for promoting inclusive finance and achieving common prosperity [1][4]. Group 1: Challenges in Financing - Private and SMEs are crucial for job creation, technological innovation, and local economic vitality, yet they face common obstacles such as "difficult and expensive financing" [1]. - Traditional credit systems often exclude private and SMEs due to their lack of collateral, necessitating a shift in banking practices [2]. Group 2: Proposed Solutions - Banks should innovate beyond traditional collateral-based lending by utilizing movable asset financing and supply chain finance to include "soft assets" like accounts receivable and intellectual property as viable collateral [2]. - A comprehensive approach to reducing financing costs is necessary, which includes eliminating unreasonable loan fees, leveraging government guarantees, and providing combined financing and service solutions to enhance operational efficiency [3]. Group 3: Long-term Development - Cultivating the self-sustaining capabilities of enterprises is vital for common prosperity, which involves directing credit resources towards green technology upgrades and digital transformation [3]. - Financial support should be tailored to local industries, with products like "order loans" for agricultural processing and "microcredit" for rural workshops, ensuring that finance effectively serves the real economy [2]. Group 4: Societal Impact - Supporting private and SMEs is not only a social responsibility for banks but also a sustainable business choice, as it fosters a cycle of enterprise growth, job creation, and income enhancement, thereby solidifying the foundation for common prosperity [4].
美国购房抵押贷款申请大幅下降 之前一周曾出现激增
news flash· 2025-07-16 11:29
Core Viewpoint - The number of mortgage applications in the U.S. has significantly decreased due to persistently high borrowing costs, reaching the lowest level since late May [1] Group 1: Mortgage Application Trends - The Mortgage Bankers Association (MBA) reported an 11.8% drop in the mortgage application index for the week ending July 11, marking the largest decline since 2022 [1] - This decline follows a 9.4% increase in the previous week, which included the Independence Day holiday, indicating volatility around holiday periods [1] Group 2: Refinancing and Interest Rates - The refinancing mortgage application index fell by 7.4%, after reaching its highest level since April in the prior week [1] - The contract rate for a 30-year fixed mortgage slightly increased by 5 basis points to 6.82% [1] Group 3: Economic Implications - Economists suggest that the ongoing high borrowing costs are constraining affordability, and a decrease in financing costs is crucial for stimulating the real estate market [1]